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Catellus Declares First Quarter Dividend
SAN FRANCISCO, Feb. 11 /PRNewswire-FirstCall/ -- The Board of Directors of
Catellus Development Corporation today declared a regular cash dividend for the
quarter ending March 31, 2004, of $0.27 per share ofcommon stock payable on
April 15, 2004, to stockholders of record at the close of business on March 29,
2004.
Catellus Development Corporation is a publicly traded real estate development
company that began operating as a real estate investment trust effective January
1, 2004. The company owns and operates approximately 38.2 million square feet
of predominately industrial property in many of the country's major distribution
centers and transportation corridors. Catellus' principal objective is
sustainable, long-term growth in earnings, which it seeks to achieve by applying
its strategic resources: a lower-risk/higher- return rental portfolio, a focus
on expanding that portfolio through development, and the deployment of its
proven land development skills to select opportunities where it can generate
profits to recycle back into its business. More information on the company is
available at http://www.catellus.com/.
Except for historical matters, the matters discussed in this release are
forward-looking statements that involve risks and uncertainties. Forward-looking
statements include, but are not limited to, statements about plans,
opportunities, and development. We caution you not to place undue reliance on
these forward-looking statements, which reflect our current beliefs and are
based on information currently available to us. We do not undertake any
obligation to publicly revise these forward-looking statements to reflect future
events or changes in circumstances, except as may be required by law. These
forward-looking statements are subject to risks and uncertainties that could
cause our actual results, performance, or achievements to differ materially from
those expressed in or implied by these statements. In particular, among the
factors that could cause actual results to differ materially are: changes in
the real estate market or in general economic conditions, including a worsening
economic slowdown or recession; product and geographical concentration; industry
competition; availability of financing and changes in interest rates and capital
markets; changes in insurance markets; discretionary government decisions
affecting the use of land, and delays resulting therefrom; changes in the
management team; weather conditions and other natural occurrences that may
affect construction or cause damage to assets; changes in income taxes or tax
laws; liability for environmental remediation and changes in environmental laws
and regulations; failure or inability of third partiesto fulfill their
commitments or to perform their obligations under agreements; failure of parties
to reach agreement or definitive terms or to close transactions; increases in
the cost of land and construction materials and availability of properties for
future development; limitations on, or challenges to, title to our properties;
risks related to the financial strength of joint venture projects and co-owners;
changes in policies and practices of organized labor groups; shortages or
increased costs of electrical power; other risks inherent in the real estate
business; and acts of war, other geopolitical events and terrorists activities
that could adversely affect any of the above factors. For further information,
including more detailed risk factors, you should refer to Catellus Development
Corporation's annual report on Form 10-K/A for the fiscal year ended December
31, 2002, and its reports on Form 10-Q for the quarters ended March 31, 2003,
June 30, 2003, and September 30, 2003, filed with the Securities and Exchange
Commission ("SEC"), as well as the proxy statement/prospectus filed with the SEC
on August 15, 2003.
Contact: Derek Fritz, Investor Relations of Catellus Development Corporation,
+1-415-974-3781.
DATASOURCE: Catellus Development Corporation
CONTACT: Derek Fritz, Investor Relations of Catellus Development
Corporation, +1-415-974-3781
Web site: http://www.catellus.com/